Cricket South Africa has responded to Brimstone’s withdrawal from their ownership of the Stellenbosch franchise team in the new T20 Global League.

Mustaq Brey, CEO of Brimstone, confirmed on Friday that the company will no longer be a part of the South African T20 tournament.

‘We follow a rigorous investment process. This venture had to undergo the same process and be tested against our standard investment criteria as all other investment proposals,’ said Brey.

‘Our investment decisions take cognisance of the risks and benefits to all our stakeholders. We wish CSA well with the T20 Global League and will continue to support the development of, and access to, the sport in various other ways.’

CSA confirmed the investment corporation’s exit and addressed the future of the franchise.

‘It would have been a huge honour and privilege to have had Brimstone on board, but we understand their investment process limited them and we respect their decision,’ said CSA chief executive, Haroon Lorgat.

‘We are confident that the Stellenbosch franchise team will be ready for participation in the T20 Global League, which kicks off in November 2017.

‘We are working full steam to be ready for any new owner to take over and run the team without any delay.

‘Looking ahead, the T20 Global League is progressing according to plan, with successful workshops held in Dubai with all of the franchise team owners and then back at home with all our members,’ concluded Lorgat.

The player draft is scheduled for 26 and 27 August, with almost 400 players from 10 countries confirming their interest.